Last $81.27 USD
Change Today -0.11 / -0.14%
Volume 576.1K
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As of 8:04 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

dresser-rand group inc (DRC) Snapshot

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09/30/14 - $82.95
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02/18/14 - $51.46
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dresser-rand group inc (DRC) Details

Dresser-Rand Group Inc., together with its subsidiaries, designs, manufactures, sells, and services rotating equipment solutions to the oil, gas, chemical, petrochemical, process, power generation, military, and other industries worldwide. It operates in two segments: New Units, and Aftermarket Parts and Services. The New Units segment offers turbo and reciprocating compression equipment and steam turbines; power turbines; special-purpose gas turbines; hot gas expanders; gas and diesel engines; trip, trip throttle, and non-return valves; and magnetic bearings and control systems. This segment also provides engineering, manufacturing, project management, packaging, testing, sales, and administrative support services. The Aftermarket Parts and Services segment offers a range of aftermarket parts and services, including replacement parts, field service turnaround, service and repair, operation and maintenance contracts, rotor/spare parts storage, condition monitoring, controls retrofit, site/reliability audits, remote area energy solutions, equipment repair and rerates, equipment installation, applied technology, long-term service agreements, special coatings/weldings, product training, turnkey installation/project management, and energy asset management services. This segment also provides engineering, manufacturing, project management, installation, commissioning, start-up and other field services, repairs, overhauls, refurbishment, sales, and administrative support services. The company markets its products and services through its sales representatives comprising direct sales/service personnel and a network of independent representatives and distributors. Dresser-Rand Group Inc. was founded in 2004 and is headquartered in Houston, Texas.

8,100 Employees
Last Reported Date: 03/14/14
Founded in 2004

dresser-rand group inc (DRC) Top Compensated Officers

Chief Executive Officer, President and Execut...
Total Annual Compensation: $932.5K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $286.0K
Executive Vice President of Global Operations
Total Annual Compensation: $409.6K
Vice President, General Counsel and Secretary
Total Annual Compensation: $417.4K
Executive Vice President of Global Solutions
Total Annual Compensation: $364.4K
Compensation as of Fiscal Year 2013.

dresser-rand group inc (DRC) Key Developments

Andrews & Springer LLC Files Class Action Lawsuit Against Dresser-Rand Group Inc

Andrews & Springer LLC announced that a class action lawsuit has been filed on behalf of stockholders of Dresser-Rand Group Inc. seeking to challenge the company's recently announced merger. On September 21, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Siemens AG will acquire Dresser-Rand in a merger in a deal worth $7.6 billion. As a result of the merger, Dresser-Rand shareholders are only anticipated to receive $83.00 per share in cash in exchange for each share of Dresser-Rand. Dresser-Rand shareholders will also receive an additional $0.55 per share on the first day of each month starting March 1, 2015 until the merger closes. The process leading up to the announcement of the merger, however, appears to have some substantial conflicts of interest, thus making the process and consideration unfair. As indicated by Dresser-Rand, the company's entire executive management team will continue their roles with Siemens upon commencement of the merger. Additionally, the consideration Dresser-Rand shareholders are expected to receive is inadequate. Analysts at Yahoo! Finance have set a $100.00 per share price target for Dresser-Rand which is 20.4% more than what shareholders are expected to receive. On September 24, 2014, a Dresser-Rand shareholder filed a class action complaint that challenges Dresser-Rand's merger with Siemens. The complaint was filed in the Delaware Court of Chancery, Case No. 10165.

Dresser-Rand Group Inc. Unveils New Multi-Mw EPS100 Waste Heat Recovery Unit

Dresser-Rand Group Inc. announced that it has unveiled its new Multi-MW EPS100 waste heat recovery unit. Echogen Power Systems is an innovative waste heat-to-energy solution provider that uses a supercritical CO2 working fluid to convert waste heat into power more efficiently than existing organic Rankine cycle (ORC) technologies, without using additional fuel and without creating new emissions. Since the technology recaptures heat that was previously released into the atmosphere, the cost per unit of electricity decreases. The compact, packaged power system, with up to 50 MW capabilities, reduces overall cost of ownership with lower transportation and installation costs. The cycle can operate water-free-a critical need for many regions worldwide. An Echogen waste heat recovery system drives value for a client through its unique combination of a lower cost per unit of electricity produced, compact footprint, higher energy recovery from the waste heat stream, and ability to generate power from a wider range of heat sources than competing technologies available in the marketplace immediately.

BSH Bosch und Siemens Hausgeräte GmbH, Dresser-Rand Group Inc., Siemens Aktiengesellschaft - M&A Call

To discuss the Siemens to acquire Dresser-Rand and to divest stake in BSH


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